Pancreas is responsible for producing insulin which regulates the sugar level in the body. All those who know what diabetes is would know the importance of insulin in body (and hence the importance of pancreas). Pancreas also produces pancreatic juice which helps in digestion of food. When abnormal growth of cells (malignant cells) occurs in the pancreas, it is called pancreatic cancer. Like other types of cancer, pancreatic cancer too is life threatening.